KOCHI: Tecom’s decision to close its contract with Collin Buchnan, the master planner for the project, will have a serious ‘short-term impact’ on the real estate sector, experts said. The real estate sector had been showing signs of recovery in the last few months but now it will have to adopt a wait and watch policy.

According to the builders’ forum, about 9000 individual apartments are under various stages of construction in the areas near the proposed Smart City land.

The uncertainty over the Smart City project will delay the sale of completed units.

“The uncertainty over the Smart City project will have a negative impact in the real estate sector. It will affect the sentiments of individual buyers, especially NRIs, as the Smart City was a much-hyped project. The delay in the project will force them to rethink about investing in the city,” said Antony Kunnel, secretary, Kerala Builders Forum (KBF).

“But I think it’s a short-term impact. We have not gone for a huge capacity build up in Kakkanad.

We have other potential areas in the city. The Infopark is doing well and once the global meltdown eases the already established IT companies will attract more techies to the city.

Kochi will certainly become an IT hub if we promote Infopark.

The government should take necessary steps for IT-related expansion.

Smart City is not the ultimate in development,” Antony said.

He said that factional feud in the CPM is the reason for the delay in starting the Smart City project. “The government should take a decision soon. We cannot blame Tecom for putting the project on hold. The government has not given a firm assurance with regard to the Smart City’s entitlement to 12 percent freehold land.” Regarding the overall market scenario, Antony said, “builders are confident that things will change for the better in the real estate sector soon and some new projects
are in the pipeline.” Construction companies are now focusing on the middle-class segment and this will do well for the industry. “The new apartments will have all modern amenities at the same time they will be reasonably priced to make it affordable to the middle-class,” he said.

KOCHI: Banks and financial institutions participating in Invest@2009, an investors meet organised by the State Industries Department, agreed in principle to lend Rs.123 crore to 127 proposals that were scrutinised and cleared during interactions between entrepreneurs and representatives of banks and financial institutions here on Tuesday.

A spokesman for the Industries Department said that more interactions were on and more proposals were likely to be cleared at the end of the day.

He said the proposals came from sectors as varied as food processing and decorative glass production. Proposals for agro-based industries and plywood manufacturing were among those cleared on Tuesday, he said.

Representatives of several public sector and leading private sector banks participated in the day-long programme, which was organised solely by the Industries Department. In the run-up to Tuesday’s event, the Industries Department identified nearly 450 entrepreneurs who could benefit from participating in the meet. The actual number of attendance exceeded the initial expectations, as more than 600 entrepreneurs registered for participation.

The department targeted investors both from Kerala and outside. Non-Resident Keralites (NoRKs) entrepreneurs were among the targets identified by the department.

The Kochi Corporation has sought the help of the Railways in starting a suburban-railway system linking Kochi city with Thrissur, Kottayam and Mattancherry, benefiting short-distance commuters. The civic authority had also demanded setting up a new railway station at Nedumbassery for the benefit of passengers who arrive at the Cochin International Airport.

This was highlighted in a memorandum submitted by the City Mayor, Prof Mercy Williams, to the visiting Minister of State for Railways, Mr E. Ahmed.

Top on the list is a project to build four-lane overbridges in place of the existing two-lane ones at Ernakulam North and South.

The widening of the two bridges that were built in the 1960s is vital to ensure smooth flow of traffic along the Banerjee Road and Sahodaran Ayyapan Road, two arterial roads in the city that encounter traffic snarls all through the day.

However, any work on them cannot be carried out unless the long-pending overbridges are ready at Pullepady and Atlantis which run parallel to the two bridges.

For this, the Corporation has asked the Railways to speed up work on the two new bridges, apart from the pending ones at Ponnurunni and Pachalam.

Halting stations at the Ponnurunni Marshalling Yard and Edapally too have been mooted, on the lines of the Pettah railway station in Thiruvananthapuram.

Audi, the German luxury car manufacturer, today announced the opening of the country’s first Audi terminal showroom in Kochi. ‘Audi Kochi’ is Audi’s flagship showroom in India that exemplifies the latest and exclusive terminal architecture of Audi. The purpose of the Audi terminal is to increase the visibility of the brand through a design that is instantly recognizable in the metropolises around the world. The visionary dealership in Kochi has a 9000 square feet wide area exclusively dedicated for sales.
Mr. Benoit Tiers, Managing Director of Audi India, said, “Audi Kochi epitomizes the new terminal concept that offers a unique Audi experience to our customers around the globe. Audi’s brand philosophy “Vorsprung durch Technik” stands for progressiveness, sophistication and exclusivity and ‘Audi Kochi’ embodies the same. This dealership offers a world class service standard that is a norm for Audi. It will strengthen Audi’s foothold in the south Indian market and reinforce our commitment to reach out to customers.” As the most visible sign of the sales offensives, the Audi terminals will create an exclusive brand presence at hundreds of dealerships worldwide. In emphasizing the dynamics of the curve, the terminal’s architecture of the renowned office Allmann Sattler Wappner embodies the trend-setting luxury of the brand. The curve dominates the design of the presentation areas and of the windows in the Audi terminals. The architectural concept’s aluminum facade reflects the German car maker’s expertise in lightweight design.

The new Audi terminal in Kochi is an addition to the worldwide examples of the new Audi corporate architecture that are already located in cities such as Tokyo, Geneva, Sydney and Munich. By the end of 2012, more than 350 Audi terminals are to be created worldwide.

Audi Kochi is Audi India’s second largest dealership with 9,000 square feet exclusively dedicated for sales and a display of eight Audi cars. The world class interiors are designed using unique and exquisite materials from different countries in Europe. As the new dealer of the brand with four rings, it aims to intensify the fascination that customers and visitors have with Audi World. Initially, this pioneering dealership will have 17 highly skilled and trained employees from Audi to service customers. An additional area of 6,000 square feet houses a premium body shop and workshop with state-of-the-art technology. It reaffirms Audi’s commitment to provide world-class service standards to Audi owners.

Audi Kochi will give its customers the progressive Audi brand experience not only with the latest international standards of Audi Corporate Identity but also with Audi's complete range of models. The exclusive super sports car Audi R8 will be on display for the opening.

The Kerala Cricket Association will build a new modern international cricket stadium in Kochi in three years.

The association has signed an agreement for 23 acres of land at Edakochi and has paid an advance of Rs 10 crores. The construction of the Rs. 250-crore project will begin early next year.

“It will be one of the best stadiums in the country and the most advanced too,” said T.C. Mathew, the KCA secretary, after the inauguration function of Kerala’s first indoor cricket academy at Kothamangalam’s Mar Athanasius College on Wednesday.

Multi-purpose

“Apart from the cricket stadium, we’re also planning to have facilities for almost all indoor games, swimming pools, one with hot water facility, facilities for water sports, an international-level club house and also a 10-metre shooting range at the venue. We are also looking to buy some more land for the project. It’s a three-year project.”

The conception and design are likely to take six to nine months.

“We’re looking at the Adelaide stadium, the Johannesburg Stadium, the main pavilion at the Mohali stadium and also the Hyderabad stadium and trying to bring the best to Kochi. The stadium will also have facilities for hosting Test cricket under lights,” said Mr. Mathew.

The KCA plans to finance the project from funds the BCCI gives to State associations for new stadiums, its own funds and bank loans. “We will also open club membership for the public to use the facilities and raise a good amount from this,” he said.

Malayalam film superstar Mammootty Sunday geared up for a new role - that of a producer and distributor - with the inauguration of his production company named Play House.

The ribbon cutting ceremony of new company was done here by popular film personalities Siddique and Lal.

"The name of the company itself means theatre and hence it would be for both film and drama. Opportunities would be there for new faces in film and drama," Mammootty told reporters.

The actor has been one of the leading stars of the Malayalam film industry for the past 26 years and has put on the grease-paint in more than 300 films besides picking up three national awards for acting.

The company has lined up three films for distribution and one for production in which Mammootty will play the lead, the actor informed.

The first film to be distributed is Jayaram-starrer "Kana Kanmani" directed by Akku Akbar and the others films by award winning director Shyamaprasad and Lal Jose.

Kochi is the undisputed leader as a shooting spot as far as malayalam film industry is concerned . Most of the film personalities reside in Kochi with both superstars (Mamooka & Lalettan ) being proud residents of this beautiful city. & the neighbouring Alleppey - backwaters is a hot bed of Tamil / Telugu & Bollywood films.

KOCHI: The ‘smart’ dreams of Kochi may not take wing. The gradual withdrawal of Tecom from the much-hyped Smart City project is sure to shatter the IT prospects of the city.

Kochi, which has been projected as the next major IT destination in the country after Bangalore, Hyderabad and Chennai, and a potential second-rung IT hub along with Pune, is likely to suffer a setback if the Smart City project is dropped.

Currently Infopark is the only avenue for major IT companies coming to the state.

In view of the inflow of IT companies into the state, Infopark had been planning a phased-development across the state. “We are planning to start three similar initiatives in Thrissur, Cherthala and Ambalapuzha. These IT parks will be set up in a phased manner.

The first phase of Thrissur Park will begin in January 2010. This will be a major boost to IT companies eyeing Kochi,” said an official with the Infopark. He said that the recent developments regarding the Smart City project have not had any impact on IT companies operating at Infopark.

IT experts are of the view that a place is identified as an IT hub when the number of IT parks concentrated in that particular place increases.Therefore IT companies concentrate more on the place rather than the IT Park.

They point out that IT centres like Bangalore have about 50 IT companies operating.

Meanwhile there are assumptions that The Dubai technology and Media Free Zone has been using pressure tactics on the State Government at a time of global meltdown. “If the project is dropped it will definitely affect the reputation of the State Government and Tecom. The way Tecom is handling the project indicates that currently it is under some financial crunch and this could be the reason for the pressure tactics,’’ said a senior IT official with the State Government.

The State Government looking into the real reason behind Tecom’s decision to change the master planner company.

Fisheries Minister S Sarma who is also the director board member of the Smart City project said that only the director board can take a decision regarding the change of master planner and Tecom has not made any official communication to the government about the recent developments.

KOCHI: It was the Smart City project which gave Kakkanad a place in the global IT map. And now the uncertainties looming large over the project will reflect on the overall development of Thrikkakara panchayat.

Almost all the infrastructure development of Kakkanad were based on the Smart City project. The surrounding areas of Kakkanad like Pallikkara, Brahmapuram and Pookkattupady were on a developmental spree after the project was declared. If the project had kicked off, road connectivity to the eastern parts of the district would have improved.

Kakkanad, which already has a good number of floating population, had thrown open a world of opportunities for all kinds of business enterprises. There were plans to protect river Kadambrayar which was the source of potable water to the Smart City. A plan for Kadambrayar tourism, which was inaugurated by the Tourism Minister, has reached nowhere.

Kadambrayar tourism project would have given a boost to the tourism prospects of Kochi. The eco-friendly tourism project was envisaged for the protection of the adjacent paddy fields as well. But now all the activities will be affected due to the delay in the Smart City project.

With uncertainty prevailing over the Smart City project, some of the national and state-level IT majors came up with proposals to take over the project. In the wake of reports that Tecom is backing out of the venture, Kerala Builders Forum (KBF) came forward with a proposal to promote Smart City a few months ago.

But the State Government turned it down.

“Given the inordinate delay in implementing the project, the State Government can invite a fresh tender for the venture.

Many international and national players will be ready to take over the project,’’ said George E George, chairman, KBF. But he said that KBF is yet to submit a written proposal to the government in this regard.

The prime duty of a promoter is to construct basis infrastructure and not to set up any IT ventures directly.

So many firms operating in the country will be able to complete the work easily. Besides, the project cost is only Rs 1,500 crore which is not a huge amount.

Marketing the space is as important as infrastructure development.

“IT majors from the country can certainly take over the project. But what the project aims at is to attract global IT firms to Kochi. This requires marketing tactics,’’ said an expert in IT marketing.

“The project requires international standards on the designing, marketing and operating fronts.

A corporate firm of repute will be able to start the project and run it successfully,’’ he said.

“Apart from Rs 1,500 crore, an investment of at least Rs 6,000 crore is needed once Smart City becomes operational,’’ he said.

The government should either sort out the differences with Tecom and start the project without delay or go for a re-tender.

This is the demand put forward by those directly and indirectly involved with the project.

If not TECOM we have Indian as well as other multi national firms ready to take up Smart City deal . Now since land is not an issue with almost 250 acres already acquired other developers would flock in once the government clears the air - to partner with TECOM or not

KOTTAYAM: Minister for Industries Elamaram Karim has expressed confidence that the row over the SmartCity project would be sorted out within a week.

Speaking to media persons here on Monday, Mr. Karim said Tecom, the Dubai-based promoters of the project, have not said that they have abandoned the project. The State government was committed to the implementation of the project and there was no going back on it, he said. The procedural formalities were being completed.

However, on account of the just concluded general elections, there was some delay in making policy decisions, he said. He also pointed to the statement by Minister for Fisheries, S. Sarma, who had expressed his commitment to implement the project.

To another question, Mr Karim said the government has decided to take over TECIL, Chingavanom, which has remained closed for the past one decade. The management had shown its inability to revive the factory and as such, the government has decided to take it over, including its land.

Many prospective entrepreneurs had evinced interest to start projects on the land, he said. The formal papers regarding the take-over will be handed over to the management by the District Collector soon, he said.

Earlier, speaking at the function organised to extend felicitations to women entrepreneurs, Mr Karim urged banks to join hands with government in implementing projects, especially in the Small Scale Industries sector.

He also wanted the Industries department to come forward to help and encourage entrepreneurs.

KOCHI: It’s high time Kochi followed the transport system of major Indian cities. Kochiites need the ‘share auto facility’ badly as the charges of shared autorickshaws will naturally be lower. If the facility is introduced in the city the public need not depend on private buses, which are always jampacked.

Above all, the introduction of the share auto facility will reduce traffic congestion on the city roads.

Ernakulam Road Transport Officer (RTO) C Radhakrishnan said that the department would support any move to introduce the share auto facility in the city. “It is a good suggestion.

We will support the system and do the needful if the authorities take up the suggestion with the State Government,” he said.

Radhakrishnan said that it would help commuters reach their destinations more comfortably at a cheaper rate. “It will be a boon to office-goers during the monsoon. The RTO will support the initiative,” he said.

Ernakulam District Collector M Beena said that the district administration was ready to cooperate with the appellate authorities to introduce the share auto facility.

“We will welcome any transport system that reduces carbon emission and cuts down the number of vehicles on city roads. If the shared auto drivers carry more passengers and cost less, it is a good system,” she said. City Police Commissioner Manoj Abraham said that the police would support the introduction of the share auto system, which is prevalent in metro cities like Chennai.

“It is up to the autorickshaw unions or drivers to approach the authorities to discuss the introduction of such a system in the city. We will support any such initiative and do the needful,” he said.

'We object'

While the entire administration is supporting the idea of introducing the share auto facility in the city, certain unions are learnt to be against it. An official with the Motor Vehicles Department on condition of anonymity said that the department faced stiff resistance from the unions, which had the backing of certain political parties, when they put forward a suggestion to introduce shared autos and call taxis in the city limits. “The union members are being selfish and do not consider the benefit of such a system,” the officer added.

Good and practical initiative to start along with carpooling taking cue from Trivandrum. Honestly was under the impression that Kochi has well past this stage and other possible MRTS since they are planning for METRO supposed to be the ultimate in MRTS as of today.

TRIPUNITHURA: The ongoing construction of Choice Paradise, Tripunithura, the tallest apartment building in South India, has reached the thirty-second floor.

After completion, the building will have forty floors.

“We have been adopting an environment-friendly approach in the design of Choice Paradise, said Choice Group managing director Jose Thomas. Precautions have been taken to equip the building with facilities to withstand the threat of natural calamities like earthquake. "Nearly 80% of the 1.8 acre-land on which the building is coming up has been kept open. The building is expected to house 132 apartments after completion.

Eighty apartments have already been sold out”, Jose Thomas said.

The official handing over of the building is expected to be held in February 2010. There are provisions for a health club, an area for aged people, a play ground and separate pools for children and women. On the terrace of the building, a specially designed telescope will be installed to facilitate a closer view of the Kochi skyline.

The architectural design of Choice Maria, Choice Group’s next venture, will be done by American architect Setramredy.